What are the characteristics of the Philippine economy?
The Philippine economy is an archipelagic economy, as the country is made up of over 7,000 islands. The economy is also characterized by its dependence on agriculture, as agriculture accounts for around 12% of GDP and employs around 30% of the work of the population. The Philippines is also a member of the Association of Southeast Asian Nations (ASEAN) and is a signatory to several free trade agreements The Philippines has a population of around 100 million people, which makes it the 12th most populous country in the world.